4. Globalization of Services
Foreign trade has been in existence since states, cities, and even villages identified themselves as separate entities from others and traded with them. As early as 4,000 years ago, there was active trade in the Middle East and Asia Minor (current Turkey); Egyptians were trading with peoples of this region; and the Sumerians, who inhabited the region of present-day Iraq, traded with Asia Minor and Syria.1 Today international trade is alive, well, and growing stronger every year. International trade in services existed alongside the trade in goods for all these years, for without services, international trade in goods would not be possible.
This chapter focuses on the globalization of services, ...